Karen Jones, Head of FICC Technical Analysis at Commerzbank, assessed the recent price action around the cross. Key Quotes “EUR/JPY charted an inside day yesterday and this does reflect a loss of downside pressure. We would allow for a near term rebound, but this is likely to find good near term resistance offered by the 127.57 August 2017 low and the 128.96 March low”. “There is scope for a slide to the 124.08 December 2016 high. Between here and the 50% retracement at 123.40 we expect to see some profit taking. Below here would target 120.10/00″. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Chicago PMI likely to increase to 59.4 in May – Nomura FX Street 5 years Karen Jones, Head of FICC Technical Analysis at Commerzbank, assessed the recent price action around the cross. Key Quotes "EUR/JPY charted an inside day yesterday and this does reflect a loss of downside pressure. We would allow for a near term rebound, but this is likely to find good near term resistance offered by the 127.57 August 2017 low and the 128.96 March low". "There is scope for a slide to the 124.08 December 2016 high. Between here and the 50% retracement at 123.40 we expect to see some profit taking. Below here would target 120.10/00". Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
